Integrian Holdings CEO Jim Matthews Jr. announced Robert Nead has been named the new president.

In a statement, Matthews wrote, "Robert has more than 30 years of experience working in high precision and highly regulated industries. The name of i3 Electronics was submitted and selected as part of a contest which was held with all employees."

According to Nead, Glen Thomas from the business development department came up with the new name.

In a statement, Nead wrote, "Special thanks to Glen Thomas for his contribution to the new name of the company, i3 Electronics, as part of a contest which was held with all employees. Glen said that his inspiration was interconnect, integrate, innovate - showing all 3 parts of our business."

As part of the transition, 500 former EI employees were offered jobs with the new company.

Nead said the new company's initial focus will be on stabilizing and developing the business over the next six to eight months.